Incyte Co. (NASDAQ:INCY) Short Interest Down 13.1% in December

Incyte Co. (NASDAQ:INCYGet Free Report) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 5,100,000 shares, a decrease of 13.1% from the December 15th total of 5,870,000 shares. Based on an average trading volume of 1,960,000 shares, the short-interest ratio is presently 2.6 days. Currently, 2.7% of the company’s stock are sold short.

Incyte Stock Down 0.7 %

NASDAQ INCY traded down $0.54 during trading hours on Friday, hitting $71.93. The company had a trading volume of 1,004,226 shares, compared to its average volume of 1,542,123. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 513.82, a P/E/G ratio of 0.51 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm’s 50 day moving average is $72.36 and its 200 day moving average is $67.98.

Incyte (NASDAQ:INCYGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. Sell-side analysts anticipate that Incyte will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock worth $839,711 in the last quarter. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Incyte in the third quarter valued at approximately $156,611,000. Mizuho Securities USA LLC increased its position in Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Incyte by 2,486.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after buying an additional 379,390 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on INCY shares. JPMorgan Chase & Co. increased their price objective on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada upped their target price on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th. Finally, Oppenheimer boosted their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average price target of $76.29.

Read Our Latest Stock Report on Incyte

About Incyte

(Get Free Report)

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.

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